Enterprise cloud computing company, Salesforce.com has entered into a deal with social media platform provider, Buddy Media, to acquire their company and pay them almost $690 million in cash and common stock.

Salesforce.com hopes to have the acquisition of Buddy Media complete before the end of October this year.

Marc Benioff, chairman and CEO of salesforce.com comments on the acquisition of Buddy Media:

“Salesforce.com now has the number one players in social listening and marketing – Radian6 and Buddy Media,”

“With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity.”

Michael Lazerow, co-founder and CEO Buddy Media comments on the power of joining with Salesforce.com:

“Buddy Media’s mission is to eliminate the current state of anarchy in social marketing,”

“With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimize their social programs and deliver real business results.”

Marcel LeBrun, SVP of Salesforce Radian6 also comments on the addition of Buddy Media’s unique addition to the Salesforce portfolio of solutions:

“Social media has caused the biggest transformation in marketing since the Mad Men era, causing CMOs to completely re-think their strategies,”

“By bringing together market leaders Radian6 and Buddy Media, we are doubling down on the Salesforce Marketing Cloud to provide CMOs with the ability to manage the entire social marketing lifecycle.”

Here’s some financial data on the impact to Salesforce.com from the acquisition of Buddy Media:

Q2 FY13: Given an expected fiscal third quarter close date, this transaction is not expected to have any material impact to salesforce.com’s fiscal second quarter FY13 revenue or EPS results, previously guided on May 17, 2012.

Q3 FY13: Salesforce.com expects to provide revenue and EPS guidance for its fiscal third quarter FY13, including the effects of this transaction, when it announces results for its second fiscal quarter, ended July 31, 2012.

FY13: The acquisition is expected to increase revenues by approximately $20 million to $25 million, and to reduce non-GAAP EPS by approximately $0.14 to $0.15 in the second half of the year ending January 31, 2013 depending on the final acquisition date. To reflect the impact of this acquisition, the company is updating the full-year guidance it provided on May 17, 2012. Specifically, the company now expects FY13 revenue in the range of approximately $2.990 billion to $3.025 billion, and FY13 non-GAAP EPS in the range of approximately $1.45 to $1.49.

Non-GAAP EPS excludes the impact of the following non-cash items: stock-based compensation, amortization of purchased intangibles from acquisitions, and the amortization of debt discount on the company’s convertible senior notes, as well as the tax consequences associated with these items. The financial impact of the acquisition on a GAAP basis cannot be estimated until the allocation of the purchase price is completed following the closing of the acquisition. However, salesforce.com currently expects that the dilutive impact of the acquisition to EPS will be significantly greater on a GAAP basis than a non-GAAP basis.

Buddy media brings along social media marketing accounts from giants like Ford, Hewlett Packard, L’Oreal and Mattel. They currently serve over 1000 customers and provide campaigns on platforms like Twitter, Google, Facebook, YouTube, and Linkedin.